YCharts announced Tuesday that it has added the ability for its advisor users to track and compare traditional assets to the 25 largest cryptocurrencies as measured by market capitalization.
CEO Sean Brown said that introduction of the crypto data — offered at no additional cost to users — came in response to advisors who reported increased requests for such data from their clients beginning late last year.
Once those requests “hit a critical mass,” Brown said, “we knew adding cryptocurrency data was something we had to add to our platform.”
While Brown said YCharts wasn’t aware that any of its advisor users were “recommending crypto to their customers,” he said that all advisors are “trying to decipher what buzzwords like blockchain, crypto and Bitcoin mean, and how they interrelate,” and are trying to understand “whether this is a viable investment alternative that they can put their recommendations behind.”
The action fits in with YCharts’ mission, Brown said, to “enable our clients to make smarter investment decisions” by providing them with data on investment alternatives so they can “quickly and easily analyze and compare investment alternatives.”